BEAVERTON, Ore., Oct. 30, 2019 /PRNewswire/ -- Digimarc Corporation (NASDAQ: DMRC), creator of the Digimarc Platform for digital identification and detection, reported financial results for the third quarter ended September 30, 2019.
Third Quarter 2019 Financial Results
Revenue for the third quarter of 2019 increased 19 percent to $5.8 million, compared to $4.9 million in the third quarter of 2018. The increase in revenue was due to higher subscription and service revenue.
Operating expenses for the third quarter of 2019 increased three percent to $11.9 million, compared to $11.6 million in the same quarter a year-ago. The increase in operating expenses was primarily due to routine annual compensation adjustments for employees.
Operating loss for the third quarter of 2019 decreased seven percent to $8.0 million, compared to $8.6 million in the third quarter of 2018. The lower operating loss was primarily due to higher revenue, partially offset by higher operating expenses.
Net loss for the third quarter of 2019 decreased seven percent to $7.8 million or $(0.65) per diluted share compared to net loss of $8.3 million or $(0.73) per diluted share in the same quarter a year-ago.
At quarter-end, cash, cash equivalents and marketable securities totaled $42.8 million, compared to $50.0 million at June 30, 2019.
Digimarc will hold a conference call today (Wednesday, October 30, 2019) to discuss these results, as well as provide an update on market conditions and execution of strategy. Chairman and CEO Bruce Davis and CFO Charles Beck will host the call starting at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A question and answer session will follow management's presentation.
The conference call will be broadcast live and available for replay here and in the investor section of the company's website. The conference call script will also be posted to the company's website shortly before the call.
For those who wish to listen to the call via telephone, please dial the number below at least five minutes prior to the scheduled start time:
Toll-Free Number: 866-562-9934
International Number: 706-679-0638
Conference ID: 96755405
If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 949-574-3860.
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